Wichita eagle., 1887-04-14
OUR AGRICULTURAL SOCIETY.
Not "a Little Mixed"

tlOn OF q Uttic IulAcO, Yum ioN1 ~
norter. or his informant, is sadly mixed;
and considerably of, in some OF the state
ments and charges made against the ofncers
of the Arkansas Valley Agricultural socie-
ty. I desire to correct some OF the mis-
state ulents. First he says: lat a meeting
near month ago there were All shares OF
stock not sold" The above number OF
sh ares were at that time not sold; but 4lo
of the shares subscribed for, the money
not paid in on them at that time. lie
farther says: 1T was voted by both stock
holders and directors to sell no more OF Ii.
In this he is again mistaken or misin-
formed, for no such action or vote was had.
1t would be contrary TO the statutes OF
Kansas. He further says: cit is claimed
that the whole affair was a concocted
scheme to rob the association out OF $50
per share, and the parties who made the
purchase were the ones to bring about the
dissolution of the corporation" This Is
Absolutely false. In every particular. The
4lo shares were subscribed for. over
six months ago, bonefdely and in good
faith. and with no thought or intention on
the part of the subscribers, so far as l
know, Of bringing about dissolution.
or "robbing." The number of voters or
stockholders represented at the meeting
was l31, Of this number 100 individuals
voted 625 shares for dissolution. and II
individuals voted % shares against. Now
counting either way, by individuals or
shares of stock, the majority was Tor dis
solution. 1t was apparent to every one
who attended the meeting Of March 10th,
as well as the meeting Of April 18th that
there was no harmony Of action or senti-
ment among the stockholders; one faction
were determined to have dividend OF
SEA, 600 declared so as to cripple the fnan-
cial condition of the society so we could
not purchase grounds and fit them up for
fair this fall at the designated time. The
terms of sale Of our grounds for $50, 800
are as follows: $4,000 cash March I'd,
and $4,000 April 1st, and SO, coo July list,
and $4,000 October LIST, and $12, 800 April
1, 1888. Taking $50, 600 out of the above
amount, where is the money to come
from to purchase grounds and fit them up
for fair next September? The 41e shares
that were subscribed for and which have
been paid for lin March, and certificates
issued and delivered, will only reduce the
dividend from about S95 per share to about
s45 per share. The books have been open
for the sale of stock Or receiving subscrip
tons for stock ever since the organization
of the society, and anyone desiring was at
liberty to sail on the secretary and pur
chase as long as there WAS any stock not
sold, or subscribed for. Our by laws pro
vide that no stock shall be delivered until
paid for. There is another feature about
this whole transaction that these hot headed
and selfconstituted regulators of society
have overlook in their haste. They have
branded the officers as thieves and robbers,
etc. They forgot that the business men
and citizens Of Wichita have contributed at
various times towards our fair; for the pur-
pose of erecting an ampitheater, the citi-
Zens and business men contributed nearly
81 ,000, and for fine art hall nearly $500 more
and at various times other amounts, and
for all of these contributions they have
nothing to show in return. The donations
were made freely and for the encourage
ment and perpetuation of the association.
A soon as our grounds were sold and the
directors proceeded to re.invest the pro
ceeds in other grounds and fit them up In
a manner that would be credit to WITCH
tia and Sedgwick county, we were en- joined
from investing any Of the money. Thost
honorable O. stockholders who clamor for
their dividend, stated that eve never
should hold another fair; they would law
us to the bitter end"
Now, so far as the 40 shares Of stock !
took (of the 40 shares) it was for one OF
wo objects First-To invest in another
z ound for a f1rstclass fair, as it would
give me more voting power, and second
if we could not succeed in organizing an
other fair, that the dividend on the 40
shares should be donated towards
city hospital or some other
benevolent institution In which the
public would derive benefit. |, with
several others, are ON some paper OF the so
ciety as an endorser. and by having the
additional forty shares, would give me
more voting power In selecting officers
who would not repudiate what has been
accomplished for the good Of the society;
and so far as | know. the other members
of the board and those who took up the
40 shares, did so far the purposes OF per-
petrating an agricultural society under
another organization if these ''k:ckers'
in dissolvlng the present socie
ty-they wanted it dissolved for the sake
of dividends to be derived We were
willing they should nc let out; but not to
take with them as dividends what belonged
in part to the business men who received no
stock for their contributions We stand
ready to organize another fair. and put all
the dividends and stock we hold
and own; or donate the dividend
on recently purchased shares
- objects as above indicated, il we cannot
organize . new one that will be credit TO
our city and county. The enly way We
could legally and peaceably organize